Selling Techniques in Today's Market

Quotation on Risk Peter F. Drucker: “What you have to do and the way you have to do it is incredibly simple. Whether you are willing to do it is another matter.”

Questions to Answer Are you a salesperson at home? When?  What about when you go for a job interview?  Are there times you try to sell something to your teacher at school?

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Vocabulary   Sales quotas. Dollar or unit sales goals set for the sales staff to achieve in a specified period of time.   Personal selling. Direct contact between a salesperson and a customer; two-way communication between the seller and the buyer.   Goals of selling. Purpose of selling is to help customers make satisfying buying decisions, which create ongoing, profitable relationships between buyer and seller.   Consultative selling. This type of selling provides solutions to customers’ problems by finding products that meet their needs.

Vocabulary – CON’T   Feature-benefit selling. A concept that matches the characteristics of a product to a customer’s needs and wants. Customer buying motives. Salespeople must know what motivates customers to buy and what decisions customers make before the final purchase. Motives are usually rational or emotional.   Customer decision making. Some customers need no help from salespeople, and others require significant time and effort.  This difference has its roots in three types of decision making - - extensive, limited, and routine.

There is an old saying in the retail industry “NOTHING HAPPENS UNTIL SOMETHING GETS SOLD”

Sales are based on certain truths Fortune 500 Sales don't just happen. Selling skills can be learned. Everyone can learn to be an effective salesperson. Customers don't care how much you know until they know how much you care. If sales are done correctly, customers will be satisfied and the company will be profitable.

EXPLANATION     Sales don’t just happen . For a business to be successful, planning and research are required. Some products carry nearly universal appeal, such as televisions. Others are age-specific, gender-specific, or limited to a specific interest group, such as skateboards.   Selling skills can be learned . “Natural-born” salespeople are really just excellent communicators. The skills needed to be a successful salesperson are not difficult to develop, and are refined through practice.

EXPLANATION – CON’T   Everyone can learn to be an effective salesperson . Just as with any other skill, some people will learn faster than others will, but everyone can improve their skills by practicing.  

satisfaction If sales are done correctly, the customers will be very satisfied and the company will be profitable . Research has shown that a satisfied customer will tell three people how nice their buying experience was with you. Satisfied customers will bring you more business, and these referrals will be ready to buy from you.

dissatisfaction Dissatisfied customer will tell 20 people how bad the buying experience was Dissatisfied customers will cost you sales, and rarely will you even know why.

“How has a salesperson helped you purchase an item?“ Your experience “How has a salesperson helped you purchase an item?“

(Example: first home purchase) Decision vocabulary (a) extensive decision making- used when there has been little or no previous experience with an item; goods/services have a high degree of perceived risk; very expensive or have high value to the customer (Example: first home purchase)

(Example: a 2nd car or a vacation) Decision vocabulary (b) limited decision making– used when a person buys goods/services that s/he has purchased before but not regularly; products has a moderate degree of perceived risk. (Example: a 2nd car or a vacation)

Decision vocabulary (c)   routine decision making – used when a person needs little information about a product/service; perceived low risk because product is bought frequently or satisfaction with product is high. (Example: groceries)

brainstorm (a) Jewelry (b) Apparel (c) Winter coat (d) Running shoes What are customers really looking for when they buy the following products: (a)     Jewelry (b)     Apparel (c)     Winter coat (d)     Running shoes

Sample answers (a)     Jewelry: makes purchaser/recipient, if a gift, feel good (b)     Apparel: improves buyer’s appearance (c)     Winter coat: keeps buyer warm (d)    Running shoes: makes running easier on the feet or legs, or makes buyer look good.

Team project 1. Choose a product or service that could be sold at the community farmers’ market or county fair 2. Plan a sales pitch to entice customers to buy the product 3. Design a fictitious county fair booth (with props or bulletin boards) to be set up in the classroom 4. Demonstrate selling techniques

Selling involves one-on-one contact with customers in most cases Remember………. Selling involves one-on-one contact with customers in most cases A salesperson must have knowledge about the product being sold A salesperson must understand customers’ motives for buying and types of customer decision making